Monero XMR/USD completes trading week near area 292. The cryptocurrency is trading below the lower boundary of Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend for Monero. Ichimoku Kinko Hyo Cloud near the level 310 is expected to be tested near the level, from which one should expect a rebound and continue the development of the fall with the target near the level of 165. An additional signal in favor of the drop of the cryptocurrency will be the test of the upper boundary of the bearish channel.
Monero (XMR/USD) weekly forecast February 19 — 23, 2018
Earlier, a weak signal was received for buy of Monero cryptocurrency, due to the crossing of signal lines at level 245. Cancellation of the option of falling quotes Monero will be a breakdown of the upper boundary of the Cloud Ichimoku Kinko Hyo with the closing of quotes above the area of 355, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XMR/USD is worth a breakdown of the support area and closing below the level of 250.
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